2018 Peterborough Rental Market Report

H O U S I N G M A R K E T I N F O R M AT I O N
RENTAL MARKET REPORT

Peterborough CMA
C A N A D A M O R T G A G E A N D H O U S I N G C O R P O R A T I O N
Date Released: 2018
The overall vacancy rate*...
INCREASED to
Below CMA
1.5 % Similar to CMA
Above CMA
Remainder of CMA
!
(
Downtown
The average rent is*... !
(
$ 1,027
Below CMA
Similar to CMA
Above CMA
UP by 7.1%
PRIMARY RENTAL MARKET (by bedroom type)

Bachelor One bedroom Two bedroom Three or more bedrooms
“The increase in rental
1.4% 1.3% 1.5% 2.8%

supply was higher than
the increase in the
occupied stock which
Vacancy Rate Vacancy Rate Vacancy Rate Vacancy Rate resulted in the vacancy
rate moving higher.”
$734 Avg.
Rent
$916 Avg.
Rent
$1,077 Avg.
Rent
$1,322 Avg.
Rent
Olga Golozub
Senior Analyst, Economics, Market Insights (Central)
*
CMHC collects data on the primary and secondary rental market annually, in the fall.These data refer to the primary rental market, which only includes rental units in privately-
initiated apartment structures containing at least three rental units. The secondary rental market covers rental dwellings that were not originally purpose-built for the rental
market, including rental condominiums.The primary vacancy rate and rent level is based on all surveyed structures, while the rent increase is based only on structures common
to the survey sample in both the current and previous year.
Rental Market Report - Peterborough CMA - Date Released - 2018
Key analysis findings structures tend to be higher than

in existing buildings. This year’s SUBSCRIBE NOW!
The rental apartment vacancy rate substantial increase in newly Get email notifications when CMHC
in 2018 moved higher, as growth constructed/renovated units brought publications are released or updated.
of rental supply outpaced demand. average rents up especially for Sign up for a free myCMHC account for
enhanced site access, including one-click
one-and two-bedroom apartments.
Conversions, renovations and new subscriptions to the reports and tables
that matter to you.
purpose-built rentals contributed Between July 2017 and June 2018
to the supply increase. there were 44 condominium Get your myCMHC account today!
apartment and 52 condominium
The fixed sample 1 average rent
row completions. These two forms
increased by 7.1%, substantially
of housing provide additional choice Demand increased
higher than 2.8% in 2017.
for renters and compete with the at a more gradual
purpose-built rental market. pace than supply
Higher vacancy rate
In addition to these apartment units, Demand for purpose-built rental
According to the Rental Market newly introduced municipal policies, accommodations increased by 2.2%
Survey 2 (RMS) conducted in which allow the construction of as 128 more units were occupied
October 2018, the rental apartment secondary suites, have the potential in October 2018 compared to a year
vacancy rate in the Peterborough to increase supply. Homeowners earlier. This is slightly lower than
Census Metropolitan Area (CMA) will now have the opportunity to the 2.6% increase in the total
increased to 1.5% from 1.1% in 2017. build self-contained additions/units, universe count.
The vacancy rate moved higher after which could be rented out or used
staying at its three-decade low for to house extended family. Given A key source of rental demand in
two consecutive years. Yet, at 1.5% current rents in Peterborough, this the last few years were international
the rental apartment vacancy rate in will likely prove to be popular and students. According to the preliminary
Peterborough was below the Ontario would be in direct competition with data from Immigration, Refugees and
vacancy rate of 1.8%. This year’s multi-unit rental buildings. Citizenship Canada (IRCC),
increase in Peterborough’s vacancy
rate came as a result of new rental Figure 1
supply outpacing demand.
Peterborough Apartment Vacancy Rate Moved Higher in 2018
Decade high increase
in supply 7%
The total apartment universe count 6%

increased by 154 units or 2.6%.
This marked the highest increase 5%
since 2007. Conversions, 3 renovations
4%
and the completion of nearly
50 purpose-built rental apartments 3% 6.0%
this year 4 caused the increase. 4.8%
The universe grew for all bedroom 2% 4.1%
3.5% 3.7%
counts. Although, most of the 2.4% 2.7% 2.9%
1%
increase occurred for one-bedroom 1.1% 1.5%
1.0%
apartments in Zone 1 and Zone 2 0%
and for two-bedroom apartments 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
in Zone 1 only. Generally rents in
newly-built and newly-renovated
Source: CMHC, Rental Market Survey, 2008-2018
1
When comparing year-over-year average rents, the age of the building needs to be taken into consideration because rents in newly-built structures tend to be
higher than in existing buildings. By comparing rents for units that are common to both 2017 and 2018 Fall Rental Market Surveys, we can get a better indication
of actual rent increases paid by most tenants.
2
The survey is based on privately initiated rental apartment structures of three or more units.
3
An occupancy permit data for non-residential buildings converted into rental accommodations received from the City of Peterborough’s Building Services Division.
4
The cut-off date of a newly completed rental structure to be included in the Rental Market Survey is June 30.
2
the number of study permit holders Figure 2

in Peterborough increased by
60.1% in August 2018 relative
Strong Increase in Rental Apartment Supply in 2018
to August 2017. The vast majority
of international students tend to rent Units
rather than own during their studies. 6,200
Employment among people aged
6,000
15 to 24 increased in 2018 which
supported the formation of new
5,800
households and more demand
for rental accommodation. Young
5,600
6,073
households have the highest
5,909
5,904
5,919
5,865
propensity to rent. The number
5,839
5,841
5,833
5,813
5,790
5,400
5,717
of full-time employed among those
5,611
aged 25 to 44 declined this year,
5,434
5,200
while home prices continued to
rise. This prevented many renter 5,000
households from moving out. 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
A growing senior population
contributed to rental demand Source: CMHC, Rental Market Survey, 2006-2018
as well. Based on Statistics Canada
population estimates, 5 at the end
Figure 3
of 2017, every third person living
in the region was older than 55 and
Cost of Homeownership Grows Faster than Cost to Rent
every fourth person was older than
60. For people who are currently
renting, the probability of moving Mortgage Carrying Cost * 2-Bed Rent
to homeownership diminishes as
they age and households close to $2,500
retirement are unlikely to move
out of rental.
$2,000
Rising cost of
homeownership kept $1,500
more people in rental
The 13.5% increase in mortgage $1,000
carrying costs between 2018 and
2017 was higher than the 7.1%
$500
increase in the fixed sample average
2010 2011 2012 2013 2014 2015 2016 2017 2018
rent, implying that the gap between
owning and renting has widened
Source: CREA, CMHC RMS, CMHC calculations
again this year (Figure 3). Generally, *
ortgage carrying cost are calculated based on the average MLS® price as of Q3 2018,
M
potential first-time buyers rent 10% down payment, the fixed five-year mortgage rate and a 25-year amortization period.
larger units which serve as the
closest substitute to homes in occupied two-and three-bedroom first-time buyers vacated their rental
the homeownership market, like apartments at the higher-rent quintile units. Moreover, weaker ownership
two-and three-bedroom apartments. increased when compared to a year demand is evidenced by the 18% drop
This year, the total number of earlier, implying that fewer potential in the home sales 6 this year.
5
Statistics Canada. Table 17-10-0078-01 Annual demographic estimates by census metropolitan area, age and sex, based on the Standard Geographical
Classification (SGC) 2011.
6
A sales decline is calculated on a year-over-year basis, Q3 2018 vs Q3 2017.
3
The large increase in mortgage is significantly above the 2018 The rent increase varied by zone and
carrying costs since the October 2017 guideline of 1.8%. The 7.1% increase by bedroom count. The fixed sample
survey was due to higher mortgage is the fastest rate of growth since average rent for a two-bedroom unit
rates and an approximate 8% growth we started collecting rent data. Since in Zone 2 – Rest of CMA – increased
in the average MLS® price. However, rent controls do not apply at turnover, by 9.8%, almost twice the rate of a
the average weekly earnings declined landlords are allowed to increase rents similar unit located in the downtown
by 0.9% during the same period at their discretion on apartments that core, Zone 1. The five percentage
of time. are turned over to a new tenant and point difference was due to stronger
right up to the Ontario Guideline demand and limited supply growth for
Fast growth in rents on apartments which have the same this particular unit type. In fact, asking
tenant as last year. The turnover rents on vacant two-bedroom units in
The fixed sample average rent in rate in Peterborough was 17.8% Zone 2 were trading at 3.1% premium
Peterborough increased by 7.1% in October 2018, above the Ontario over the average rents of occupied
between 2017 and 2018, which rate of 14.9%. two-bedroom units in the same zone
in October 2018.
4
North Havelock-
Kawartha Belmont-Methuen
Trent
Lakes
Douro-
Dummer
02
Selwyn
Kawartha
Lakes Asphodel-
Norwood
01
Peterborough
Otonabee-South
Monaghan
Trent
Hills
Cavan
Monaghan
Cramahe
Alnwick/
Zone - Name Haldimand
Hamilton
Port
01 - Downtown Hope
´
Clarington
02 - Remainder of CMA
0 8.5 17
Municipal Boundary (2016) km
5
RMS ZONE DESCRIPTIONS - PETERBOROUGH CMA

Zone 1 Downtown - Part of Peterborough City (Geographically: Zone 1 is bounded by Park Hill Rd. on north, Lansdowne St. on south,
Ashburnham on east, Park St./Monaghan Rd. on west). Census tracts: 0005.00, 0006.00, 0007.00, 0008.00 and 0010.00.
Zone 2 Rest of Peterborough CMA - As well as: Selwyn TP, Douro-Dummer Tp, Otonabee-South Monaghan Tp, Cavan-Millbrook-North
Monaghan TP, Curve Lake First Nation 35 IRI, and Hiawatha First Nation IRI. Census tracts: 0001.01, 0001.02, 0002, 0003, 0004,
0009.01, 0009.02, 0009.03, 0009.04, 0011, 0012, 0013, 0014, 0100, 0101, 0102.01, 0102.04, 0103, 0105.02, 0106, 0200.00, 0201.00,
9004.00 and 9005.00.
Zones 1-2 Peterborough CMA
6
Available in ALL Rental Market Reports

Private Apartment Data:
1.1.1 Vacancy Rates (%) by Zone and Bedroom Type
1.1.2 Average Rents ($) by Zone and Bedroom Type
1.1.3 Number of Units in the Universe by Zone and Bedroom Type
1.1.4 Availability Rates (%) by Zone and Bedroom Type (Not available for Québec centres)
1.1.5 Estimate of Percentage Change (%) of Average Rent by Zone and Bedroom Type
1.1.6 Turnover Rates (%) by Zone and Bedroom Type
1.2.1 Vacancy Rates (%) by Year of Construction and Bedroom Type
1.2.2 Average Rents ($) by Year of Construction and Bedroom Type
1.2.3 Turnover Rates (%) by Year of Construction and Bedroom Type
1.3.1 Vacancy Rates (%) by Structure Size and Bedroom Type
1.3.2 Average Rents ($) by Structure Size and Bedroom Type
1.3.3 Vacancy Rates (%) by Structure Size and Zone
1.3.4 Turnover Rates (%) by Structure Size and Bedroom Type
1.4 Vacancy Rates (%) by Rent Range and Bedroom Type
Available in SELECTED Rental Market Reports

Private Row (Townhouse) Data:
Private Apartment and Row (Townhouse) Data:

Available in the Halifax, Quebec, Montreal, Gatineau, Ottawa, Toronto, Hamilton, Kitchener-Cambridge-Waterloo,
London, Winnipeg, Regina, Saskatoon, Edmonton, Calgary, Kelowna, Vancouver and Victoria Reports
Rental Condominium Apartment Data
4.1.1 Rental Condominium Apartments and Private Apartments in the RMS - Vacancy Rates (%)
4.1.2 Rental Condominium Apartments and Private Apartments in the RMS - Average Rents ($) by Bedroom Type
4.1.3 Rental Condominium Apartments - Average Rents ($) by Bedroom Type
4.2.1 Rental Condominium Apartments and Private Apartments in the RMS - Vacancy Rates (%) by Building Size
4.3.1 Condominium Universe, Rental Units, Percentage of Units in Rental and Vacancy Rate
4.3.2 Condominium Universe, Rental Units, Percentage of Units in Rental and Vacancy Rate by Project Size
7
1.1.1 Private Apartment Vacancy Rates (%)

by Zone and Bedroom Type
Peterborough CMA
Bachelor 1 Bedroom 2 Bedroom 3 Bedroom + Total
Zone
Oct-17 Oct-18 Oct-17 Oct-18 Oct-17 Oct-18 Oct-17 Oct-18 Oct-17 Oct-18
Zone 1 - Downtown 0.9 d 0.0 c ↓ 0.9 a 0.9 a - 0.8 a 1.6 c ↑ 0.0 c 2.7 c ↑ 0.8 a 1.2 a ↑
Zone 2 - Rest of CMA 0.0 d ** 1.8 c 1.9 c - 1.3 a 1.4 a - 0.5 b 2.9 c ↑ 1.3 a 1.7 b -
Peterborough CMA 0.8 d 1.4 d - 1.2 a 1.3 a - 1.1 a 1.5 a - 0.4 b 2.8 c ↑ 1.1 a 1.5 a ↑
1.1.2 Private Apartment Average Rents ($)

Peterborough CMA
Zone
Zone 1 - Downtown 696 a 706 a 825 a 869 a 995 a 1,067 a 1,148 a 1,308 b 906 a 976 a
Zone 2 - Rest of CMA 741 a 829 a 887 a 979 a 984 a 1,085 a 1,201 a 1,326 a 977 a 1,073 a
Peterborough CMA 705 a 734 a 850 a 916 a 988 a 1,077 a 1,190 a 1,322 a 944 a 1,027 a
For an explanation of the letters and symbols used in the Rental Market tables, please refer to our Methodology page.
8
1.1.3 Number of Private Apartment Units in the Universe

Peterborough CMA
Zone
Zone 1 - Downtown 141 142 1,248 1,274 1,340 1,406 93 105 2,822 2,927
Zone 2 - Rest of CMA 31 32 817 851 1,940 1,953 309 310 3,097 3,146
Peterborough CMA 172 174 2,065 2,125 3,280 3,359 402 415 5,919 6,073
1.1.4 Private Apartment Availability Rates (%)

Peterborough CMA
Zone
Zone 1 - Downtown 1.6 c n/a 2.1 b n/a 1.4 a n/a 0.0 c n/a 1.7 a n/a
Zone 2 - Rest of CMA 0.0 d n/a 5.4 c n/a 1.4 a n/a 0.5 b n/a 2.3 a n/a
Peterborough CMA 1.3 a n/a 3.4 b n/a 1.4 a n/a 0.4 b n/a 2.0 a n/a
n/a: As of 2018, the number of available units is no longer collected.
9
1.1.5 Private Apartment Estimate of Percentage Change (%) of Average Rent 1

Peterborough CMA
Zone
to to to to to to to to to to
Zone 1 - Downtown 3.4 c 5.2 d 3.0 c ** 4.0 c 5.1 d ** 4.2 d 3.6 c 5.4 d
Zone 2 - Rest of CMA ++ 13.5 d 2.1 c 8.4 c 2.0 c 9.8 c ++ 7.5 b 2.1 c 8.7 b
Peterborough CMA 2.7 b ** 2.6 b 7.4 c 3.0 b 7.6 b ++ 6.4 b 2.8 b 7.1 b
1
The Percentage Change of Average Rent is a measure of the market movement, and is based on those structures that were common to the survey sample for both years.
1.1.6 Private Apartment Turnover Rates (%)

Peterborough CMA
Zone
Zone 1 - Downtown ** ** ** 18.9 d 20.7 d 19.1 d - ** ** 21.2 d 18.9 a -
Zone 2 - Rest of CMA 0.0 d ** 12.7 d ** 9.7 b ** ** ** 10.3 c **
Peterborough CMA ** ** 18.7 d 20.3 d - 14.0 a 17.0 d ↑ 11.5 d 11.5 d - 15.5 d 17.8 d -
10

by Year of Construction and Bedroom Type
Peterborough CMA
Year of Construction
Peterborough CMA
Pre 1940 ** 0.0 d 0.3 b ** 0.4 b 0.0 c - 0.0 d 0.0 d - 0.5 b **
1940 - 1959 ** ** ** 0.0 d ** ** ** ** ** **
1960 - 1974 0.0 c 3.9 d ↑ 1.3 a 1.0 a- 1.2 a 1.4 a - 0.0 c ** 1.1 a 1.4 a -
1975 - 1989 0.0 d 0.0 d - 1.3 a 1.2 a- 1.5 a 1.4 a - ** 3.7 d 1.3 a 1.5 a -
1990 - 2004 ** ** ** 1.1 a 0.0 d 0.0 d - ** ** 0.0 d 0.6 a ↑
2005+ ** ** ** ** ** ** - - ** **
Total 0.8 d 1.4 d - 1.2 a 1.3 a- 1.1 a 1.5 a - 0.4 b 2.8 c ↑ 1.1 a 1.5 a ↑

Peterborough CMA
Peterborough CMA
Pre 1940 685 a 708 a 769 a 799 a 863 a 929 a 936 c 1,036 c 798 a 845 a
1940 - 1959 ** ** 753 b 744 c 863 b 932 c ** ** 816 b 867 b
1960 - 1974 709 a 768 a 837 a 916 a 991 a 1,107 a 1,183 a 1,324 a 951 a 1,052 a
1975 - 1989 750 b 746 b 906 a 956 a 1,014 a 1,091 a 1,212 a 1,309 a 994 a 1,064 a
1990 - 2004 ** ** 986 a 1,038 b 991 a 1,085 b ** ** 991 a 1,097 b
2005+ ** ** ** 1,122 c 1,193 b 1,146 c - - 1,023 c 1,117 c
Total 705 a 734 a 850 a 916 a 988 a 1,077 a 1,190 a 1,322 a 944 a 1,027 a
11

Peterborough CMA
Peterborough CMA
Pre 1940 ** ** ** ** ** ** ** ** ** **
1940 - 1959 ** ** ** ** ** ** ** ** ** **
1960 - 1974 ** 14.0 d 11.9 c ** 11.9 d ** 10.5 c 14.5 d ↑ 11.8 c **
1975 - 1989 ** ** ** ** ** 13.9 d ** ** ** 14.7 d
1990 - 2004 ** ** 13.4 d ** 13.2 c ** ** ** 13.4 c **
2005+ ** ** ** ** ** ** - - ** **
Total ** ** 18.7 d 20.3 d - 14.0 a 17.0 d ↑ 11.5 d 11.5 d - 15.5 d 17.8 d -

by Structure Size and Bedroom Type
Peterborough CMA
Size
Peterborough CMA
3 to 5 Units 0.0 d 0.0 d - ** ** 0.0 c 0.6 b - 0.0 d 0.0 d - ** **
6 to 19 Units 0.0 c 0.0 c - 1.0 d ** 0.5 b ** ** ** 0.7 a 1.7 c ↑
20 to 49 Units ** ** 0.0 c 0.4 a ↑ 0.7 b 1.1 a - 0.0 d 0.0 a - 0.6 b 0.7 a -
50 to 99 Units ** 5.1 d 1.1 a 0.4 a ↓ 1.4 a 2.0 c - ** ** 1.2 a 1.3 a -
100+ Units ** ** 1.6 a 2.0 b - 2.2 b 1.7 b - ** 4.7 c 1.7 a 2.1 a -
Total 0.8 d 1.4 d - 1.2 a 1.3 a - 1.1 a 1.5 a - 0.4 b 2.8 c ↑ 1.1 a 1.5 a ↑
12

Peterborough CMA
Size
Peterborough CMA
3 to 5 Units 622 c 675 b 758 a 776 a 851 a 908 a ** 1,164 d 804 a 852 a
6 to 19 Units 676 a 684 a 800 a 815 a 942 a 983 a 1,103 b 1,259 b 889 a 934 a
20 to 49 Units ** ** 833 a 989 b 1,011 a 1,157 a 1,212 b 1,322 a 983 a 1,107 a
50 to 99 Units 737 a 758 a 875 a 937 a 1,027 a 1,149 a 1,191 a 1,356 b 951 a 1,044 a
100+ Units 791 a 881 a 947 a 1,035 a 1,057 a 1,173 a 1,218 a 1,337 a 1,040 a 1,146 a
Total 705 a 734 a 850 a 916 a 988 a 1,077 a 1,190 a 1,322 a 944 a 1,027 a

by Structure Size and Zone
Peterborough CMA
3-5 6-19 20-49 50-99 100+
Zone
Zone 1 - Downtown 0.5 b 0.5 b - 0.6 a 1.9 c ↑ 1.2 d 0.8 a - 1.2 a 1.6 a ↑ 0.7 a 0.5 a ↓
Zone 2 - Rest of CMA ** ** 0.9 d ** 0.4 b 0.7 a - 1.1 a ** 2.1 b 2.7 a -
Peterborough CMA ** ** 0.7 a 1.7 c ↑ 0.6 b 0.7 a - 1.2 a 1.3 a - 1.7 a 2.1 a -
13

Peterborough CMA
Size
Peterborough CMA
3 to 5 Units 0.0 d 0.0 d - ** ** ** ** ** ** ** **
6 to 19 Units ** ** ** ** 15.0 d 16.3 d - ** ** 17.1 d 17.5 d -
20 to 49 Units ** ** ** 11.2 d 13.6 c 14.5 c - 12.5 c 14.1 d - 12.7 c 13.7 c -
50 to 99 Units ** ** ** ** 24.4 d ** ** ** ** **
100+ Units ** ** 8.7 c ** 7.6 b ** ** ** 7.7 c 13.0 d ↑
Total ** ** 18.7 d 20.3 d - 14.0 a 17.0 d ↑ 11.5 d 11.5 d - 15.5 d 17.8 d -
1
1.4 Private Apartment Vacancy Rates (%)
by Rent Range and Bedroom Type
Peterborough CMA
Rent Range
Peterborough CMA
LT $700 0.0 d 0.0 d - ** ** 0.0 d 0.0 d - ** ** ** **
$700 - $799 ** 0.0 d 1.0 d ** 0.0 d ** ** ** 0.7 b **
$800 - $899 ** ** 1.0 a 1.1 d - 0.3 b 0.6 b - ** ** 0.7 a 1.1 a -
$900 - $999 ** ** 1.6 b 1.5 a - 0.9 a 1.4 d - ** ** 1.1 a 1.4 a -
$1000 - $1099 ** ** 0.9 d 0.4 b - 2.3 b 2.5 c - ** ** 2.0 b 1.7 c -
$1100+ ** ** ** 0.6 b 1.2 a 1.5 c - 0.6 b 3.6 d ↑ 1.1 a 1.8 b ↑
Total 0.8 d 1.4 d - 1.2 a 1.3 a - 1.1 a 1.5 a - 0.4 b 2.8 c ↑ 1.1 a 1.5 a ↑
1
Vacancy rate by rent range when rents are known. For the Total, vacancy rates include all structures.
14
2.1.1 Private Row (Townhouse) Vacancy Rates (%)

Peterborough CMA
Zone
Zone 1 - Downtown ** ** ** ** 0.0 d 0.0 d - 0.0 d ** ** **
Zone 2 - Rest of CMA - - 0.0 a 3.6 a ↑ ** 3.0 d 1.0 a 1.0 a - 0.7 a 1.5 a ↑
Peterborough CMA ** ** ** ** 0.0 d ** 0.7 a ** ** 1.6 c
2.1.2 Private Row (Townhouse) Average Rents ($)

Peterborough CMA
Zone
Zone 1 - Downtown ** ** 677 c ** ** ** 1,221 d 1,265 c 997 d 1,008 d
Zone 2 - Rest of CMA - - 837 a 873 a 1,018 a 1,024 b 1,052 a 1,134 a 1,025 a 1,092 a
Peterborough CMA ** ** 738 b 736 c 952 d 944 c 1,105 a 1,175 a 1,013 b 1,056 b
15
2.1.3 Number of Private Row (Townhouse) Units in the Universe

Peterborough CMA
Zone
Zone 1 - Downtown 2 2 35 35 64 62 104 106 205 205
Zone 2 - Rest of CMA 0 0 28 28 36 36 206 206 270 270
Peterborough CMA 2 2 63 63 100 98 310 312 475 475
2.1.4 Private Row (Townhouse) Availability Rates (%)

Peterborough CMA
Zone
Zone 1 - Downtown ** n/a ** n/a 0.0 d n/a ** n/a ** n/a
Zone 2 - Rest of CMA - n/a 0.0 a n/a ** n/a 1.0 a n/a 0.7 a n/a
Peterborough CMA ** n/a ** n/a 0.0 d n/a ** n/a 2.4 c n/a
16
2.1.5 Private Row (Townhouse) Estimate of Percentage Change (%) of Average Rent 1
Peterborough CMA
Zone
Zone 1 - Downtown ** ** ++ ** ++ ++ ++ ++ ** ++
Zone 2 - Rest of CMA - - ** 4.3 a 3.2 d 1.2 a 4.5 d 6.0 b 4.1 d 6.0 b
Peterborough CMA ** ** ** 3.4 d ** ++ 4.8 d 4.8 d 4.7 d 4.8 d
1
2.1.6 Private Row (Townhouse) Turnover Rates (%)

Peterborough CMA
Zone
Zone 1 - Downtown ** ** ** ** ** ** ** ** ** **
Zone 2 - Rest of CMA - - 10.7 a 10.7 a - ** 9.1 c ** 18.5 d ** 16.5 d
Peterborough CMA ** ** ** ** ** ** ** ** ** 10.9 d
17
3.1.1 Private Row (Townhouse) and Apartment Vacancy Rates (%)

Peterborough CMA
Zone
Zone 1 - Downtown 0.9 d 0.0 c ↓ 1.3 a 0.8 a - 0.8 a 1.5 c ↑ 0.0 c ** 1.0 a 1.3 a -
Zone 2 - Rest of CMA 0.0 d ** 1.8 c 1.9 c - 1.3 a 1.4 a - 0.7 a 2.1 b ↑ 1.3 a 1.7 b -
Peterborough CMA 0.7 b 1.4 d - 1.5 a 1.3 a - 1.1 a 1.5 a - 0.5 a 2.4 c ↑ 1.1 a 1.5 a ↑
3.1.2 Private Row (Townhouse) and Apartment Average Rents ($)

Peterborough CMA
Zone
Zone 1 - Downtown 690 a 698 a 820 a 861 a 992 a 1,061 a 1,187 b 1,288 b 912 a 978 a
Zone 2 - Rest of CMA 741 a 829 a 886 a 975 a 984 a 1,083 a 1,143 a 1,247 a 981 a 1,074 a
Peterborough CMA 700 a 727 a 846 a 910 a 987 a 1,074 a 1,154 a 1,258 a 949 a 1,029 a
18
3.1.3 Number of Private Row (Townhouse) and Apartment Units in the Universe
Peterborough CMA
Zone
Zone 1 - Downtown 143 144 1,283 1,309 1,404 1,468 197 211 3,027 3,132
Zone 2 - Rest of CMA 31 32 845 879 1,976 1,989 515 516 3,367 3,416
Peterborough CMA 174 176 2,128 2,188 3,380 3,457 712 727 6,394 6,548
3.1.4 Private Row (Townhouse) and Apartment Availability Rates (%)

Peterborough CMA
Zone
Zone 1 - Downtown 1.6 c n/a 2.5 b n/a 1.3 a n/a ** n/a 1.9 a n/a
Zone 2 - Rest of CMA 0.0 d n/a 5.2 c n/a 1.4 a n/a 0.7 a n/a 2.2 a n/a
Peterborough CMA 1.3 a n/a 3.6 b n/a 1.3 a n/a 0.9 a n/a 2.0 a n/a
19
3.1.5 Private Row (Townhouse) and Apartment Estimate of Percentage Change (%) of Average Rent 1
Peterborough CMA
Zone
Zone 1 - Downtown 3.3 c 5.2 d 3.0 c ** 4.1 c 5.2 d ** 3.7 d 3.7 c 5.2 d
Zone 2 - Rest of CMA ++ 13.5 d 2.1 c 8.3 c 2.1 c 9.4 c ++ 7.2 b 2.3 b 8.4 b
Peterborough CMA 2.7 b ** 2.6 b 7.3 c 3.0 c 7.4 b ++ 6.2 b 3.0 b 6.9 b
1
3.1.6 Private Row (Townhouse) and Apartment Turnover Rates (%)

Peterborough CMA
Zone
Zone 1 - Downtown ** ** ** 18.2 d 22.3 d 18.7 d ↓ ** ** 22.3 d 17.9 a ↓
Zone 2 - Rest of CMA 0.0 d ** 12.6 d ** 9.9 b ** 10.8 d 13.2 d - 10.5 c **
Peterborough CMA ** ** 18.8 d 19.8 d - 14.7 a 16.8 d - 14.0 d 12.2 d - 16.1 d 17.3 d -
20
21
Canada Mortgage and Housing Corporation (CMHC) conducts the Rental Market Survey (RMS) every year in October
to estimate the relative strengths in the rental market. The survey is conducted on a sample basis in all urban areas with
populations of 10,000 and more. The survey targets only privately initiated structures with at least three rental units, which
have been on the market for at least three months. The survey collects market rent levels, availability (outside Quebec),
turnover and vacancy unit data for all sampled structures.
The survey is conducted by a combination of telephone interviews and site visits, and information is obtained from the
owner, manager, or building superintendent. The survey is conducted during the first two weeks of October, and the
results reflect market conditions at that time.
CMHC is constantly reviewing the Universe of rental structures in the rental market Universe to ensure that it is as
complete as possible. Every year, any newly completed rental structures with at least 3 rental units are added to the
Universe. In addition to this, CMHC undertakes comprehensive reviews by comparing the Universe listing to other
sources of data to ensure that the list of structures is as complete as possible.
CMHC’s Rental Market Survey provides a snapshot of vacancy, availability (outside Quebec), and turnover rates and average
rents in both new and existing structures. There also exists a measure for the change in rent that is calculated based on existing
structures only. The estimate is based on structures that were common to the survey sample for both the previous and the
current Rental Market Surveys. The change in rent in existing structures is an estimate of the change in rent that the landlords
charge and removes compositional effects on the rent level movement due to new buildings, conversions, and survey sample
rotation. The estimate of percent change in rent is available in all Canada and Provincial Highlights publications, and also in the
CMA reports. The rent levels in new and existing structures are also published. While the percent change in rents in existing
structures published in the reports are statistically significant, changes in rents that one might calculate based on rent levels
in new and existing structures may or may not be statistically significant.
Canada Mortgage and Housing Corporation (CMHC) conducts the Condominium Apartment Survey (CAS) in late summer
and early fall to estimate the relative strengths in the condo apartment rental market The CAS collects the number of units
being rented out and the vacancy and rent levels of these units in the following CMAs: Calgary, Edmonton, Gatineau, Halifax,
Hamilton, Kelowna, Kitchener, London, Montréal, Ottawa, Québec, Regina, Saskatoon, Toronto, Vancouver, Victoria and
Winnipeg. The CAS is conducted by telephone interviews and information is obtained from the property management
company, condominium (strata) board, or building superintendent. If necessary, this data can be supplemented by site visits
if no telephone contact is made.
CMHC publishes the number of units rented, vacancy rates and average rents from the Condominium Apartment Survey.
A letter code representing the statistical reliability (i.e., the coefficient of variation (CV)) for each estimate is provided to
indicate the data reliability.
22
CMHC does not publish an estimate (e.g. Vacancy Rates and Average Rents) if the reliability of the estimate is too low or the
confidentiality rules are violated. The ability to publish an estimate is generally determined by its statistical reliability, which is
measured using the coefficient of variation (CV). CV of an estimate is defined as the ratio of the standard deviation to the
estimate and CV is generally expressed a percentage. For example, let the average rent for one bedroom apartments in a
given CMA be and its standard deviation be . Then the Coefficient of Variation is given by .
Reliability Codes for Proportions

CMHC uses CV, sampling fraction and universe size to determine the ability to publish proportions such as vacancy rates,
availability rates and turnover rates. The following letter codes are used to indicate the level of reliability of proportions:
a — Excellent
b — Very good
c — Good
d — Fair (Use with Caution)
** — Poor — Suppressed
++ – Change in rent is not statistically significant. This means that the change in rent is not statistically different than zero (0).
- – No units exist in the universe for this category
n/a – Not applicable
The following two tables indicate the level of reliability of proportions:
If the proportion is Zero (0) and sampling fraction is less than 100% then the following levels are assigned:
Sampling Fraction (%) range
Structures in Universe (0,20]* (20,40] (40,60] (60,80] (80,100)

3 – 10 Poor Poor Poor Poor Poor
11 – 20 Poor Fair Fair Fair Good
21 – 40 Poor Fair Fair Good Very Good
41 – 80 Poor Fair Good Good Very Good
81+ Poor Good Good Very Good Very Good
*(0, 20] means sampling fraction is greater than 0% but less than or equal to 20%; others are similar.
Otherwise, the following table is used to determine the reliability level of proportions:
Coefficient of Variation (CV) %
Vacancy Rate 0 (0,5] (5,10] (10,16.5] (16.5,33.3] (33.3,50] 50+

(0,0.75] Excellent Excellent Excellent Excellent Excellent V. Good V. Good
(0.75,1.5] Excellent Excellent Excellent Excellent Excellent Fair Poor
(1.5,3] Excellent Excellent Excellent V. Good Good Poor Poor
(3,6] Excellent Excellent V. Good Good Fair Poor Poor
(6,10] Excellent Excellent V. Good Good Poor Poor Poor
(10,15] Excellent Excellent Good Fair Poor Poor Poor
(15,30] Excellent Excellent Fair Poor Poor Poor Poor
(30,100] Excellent Excellent Poor Poor Poor Poor Poor
23
Reliability Codes for Averages and Totals

CMHC uses the CV to determine the reliability level of the estimates of average rents and a CV cut-off of 10% for publication
of totals and averages. It is felt that this level of reliability best balances the need for high quality data and not publishing
unreliable data. CMHC assigns a level of reliability as follows (CV’s are given in percentages):
a — If the CV is greater than 0 and less than or equal to 2.5 then the level of reliability is Excellent.
b — If the CV is greater than 2.5 and less than or equal to 5 then the level of reliability is Very Good.
c — If the CV is greater than 5 and less than or equal to 7.5 then the level of reliability is Good.
d — If the CV is greater than 7.5 and less than or equal to 10 then the level of reliability is Fair.
** — If the CV is greater than 10 then the level of reliability is Poor. (Do Not Publish)
Arrows indicate Statistically Significant Changes
Use caution when comparing statistics from one year to the next. Even if there is a year over year change, it is not necessarily
a statistically significant change. When applicable, tables in this report include indicators to help interpret changes:
↑ indicates the year-over-year change is a statistically significant increase.
↓ indicates the year-over-year change is a statistically significant decrease.
– indicates that the effective sample does not allow one to interpret any year-over-year change as being
statistically significant.
indicates that the change is statistically significant
Availability: A rental unit is considered available if the existing tenant has given, or has received, notice to move, and a new
tenant has not signed a lease; or the unit is vacant (see definition of vacancy below).
Rent: The rent refers to the actual amount tenants pay for their unit. No adjustments are made for the inclusion or exclusion
of amenities and services such as heat, hydro, parking, and hot water. For available and vacant units, the rent is the amount the
owner is asking for the unit.
It should be noted that the average rents reported in this publication provide a sound indication of the amounts paid by unit
size and geographical sector. Utilities such as heating, electricity and hot water may or may not be included in the rent.
Rental Apartment Structure: Any building containing three or more rental units, of which at least one unit is not ground
oriented. Owner-occupied units are not included in the rental building unit count.
Rental Row (Townhouse) Structure: Any building containing three or more rental units, all of which are ground oriented
with vertical divisions. Owner-occupied units are not included in the rental building unit count. These row units in some centres
are commonly referred to as townhouses.
Vacancy: A unit is considered vacant if, at the time of the survey, it is physically unoccupied and available for immediate rental.
Turnover: A unit is counted as being turned over if it was occupied by a new tenant moved in during the past 12 months.
A unit can be counted as being turned over more than once in a 12 month period.
Definitions of Census Areas referred to in this publication are as follows:
A census metropolitan area (CMA) or a census agglomeration (CA) is formed by one or more adjacent municipalities centred
on a large urban area (known as the urban core). The census population count of the urban core is at least 10,000 to form
a census agglomeration and at least 50,000 to form a census metropolitan area. To be included in the CMA or CA, other
adjacent municipalities must have a high degree of integration with the central urban area, as measured by commuting flows
derived from census place of work data. CMAs and CAs contain whole municipalities or Census Subdivisions.
October 2017 and October 2018 data is based on Statistics Canada’s 2016 Census area definitions.
Acknowledgement
The Rental Market Survey and the Condominium Apartment Survey could not have been conducted without the cooperation
of the rental property owners, managers, building superintendents and household members throughout Canada. CMHC
acknowledges their hard work and assistance in providing timely and accurate information. As a result of their contribution
CMHC is able to provide information that benefits the entire housing industry.
24
CMHC HELPS CANADIANS MEET THEIR HOUSING NEEDS.

Canada Mortgage and Housing Corporation (CMHC) has been helping Canadians meet their housing needs for more
than 70 years. As Canada’s authority on housing, we contribute to the stability of the housing market and financial
system, provide support for Canadians in housing need, and offer unbiased housing research and advice to Canadian
governments, consumers and the housing industry. Prudent risk management, strong corporate governance and
transparency are cornerstones of our operations.
For more information, visit our website at www.cmhc.ca or follow us on Twitter, LinkedIn, Facebook, Instagram
and YouTube.
You can also reach us by phone at 1-800-668-2642 or by fax at 1-800-245-9274.

Outside Canada call 613-748-2003 or fax to 613-748-2016.
Canada Mortgage and Housing Corporation supports the Government of Canada policy on access to information
for people with disabilities. If you wish to obtain this publication in alternative formats, call 1-800-668-2642.
©2018 Canada Mortgage and Housing Corporation. All rights reserved. CMHC grants reasonable rights of use of this
publication’s content solely for personal, corporate or public policy research, and educational purposes.This permission
consists of the right to use the content for general reference purposes in written analyses and in the reporting of
results, conclusions, and forecasts including the citation of limited amounts of supporting data extracted from this
publication. Reasonable and limited rights of use are also permitted in commercial publications subject to the above
criteria, and CMHC’s right to request that such use be discontinued for any reason.
Any use of the publication’s content must include the source of the information, including statistical data, acknowledged
as follows:
Source: CMHC (or “Adapted from CMHC,” if appropriate), name of product, year and date of publication issue.
Other than as outlined above, the content of the publication cannot be reproduced or transmitted to any person
or, if acquired by an organization, to users outside the organization. Placing the publication, in whole or part, on a
website accessible to the public or on any website accessible to persons not directly employed by the organization
is not permitted. To use the content of this CMHC publication for any purpose other than the general reference
purposes set out above or to request permission to reproduce large portions of, or the entire content of, this CMHC
publication, please send a Copyright request to the Housing Knowledge Centre at Housing_Knowledge_Centre@cmhc.ca.
Please provide the following information: Publication’s name, year and date of issue.
Without limiting the generality of the foregoing, no portion of the content may be translated from English or French
into any other language without the prior written permission of Canada Mortgage and Housing Corporation.
The information, analyses and opinions contained in this publication are based on various sources believed to be reliable,
but their accuracy cannot be guaranteed. The information, analyses and opinions shall not be taken as representations for
which Canada Mortgage and Housing Corporation or any of its employees shall incur responsibility.
25
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H O U S I N G M A R K E T I N F O R M AT I O N

RENTAL MARKET REPORT

Date Released: 2018

The overall vacancy rate*...

1.5 % Similar to CMA

PRIMARY RENTAL MARKET (by bedroom type)

1.4% 1.3% 1.5% 2.8%

Key analysis findings structures tend to be higher than

The total apartment universe count 6%

the number of study permit holders Figure 2

RMS ZONE DESCRIPTIONS - PETERBOROUGH CMA

Available in ALL Rental Market Reports

Available in SELECTED Rental Market Reports

Private Apartment and Row (Townhouse) Data:

1.1.1 Private Apartment Vacancy Rates (%)

1.1.2 Private Apartment Average Rents ($)

1.1.3 Number of Private Apartment Units in the Universe

1.1.4 Private Apartment Availability Rates (%)

1.1.5 Private Apartment Estimate of Percentage Change (%) of Average Rent 1

1.1.6 Private Apartment Turnover Rates (%)

1.2.1 Private Apartment Vacancy Rates (%)

1.2.2 Private Apartment Average Rents ($)

1.2.3 Private Apartment Turnover Rates (%)

1.3.1 Private Apartment Vacancy Rates (%)

1.3.2 Private Apartment Average Rents ($)

1.3.3 Private Apartment Vacancy Rates (%)

1.3.4 Private Apartment Turnover Rates (%)

2.1.1 Private Row (Townhouse) Vacancy Rates (%)

2.1.2 Private Row (Townhouse) Average Rents ($)

2.1.3 Number of Private Row (Townhouse) Units in the Universe

2.1.4 Private Row (Townhouse) Availability Rates (%)

2.1.6 Private Row (Townhouse) Turnover Rates (%)

3.1.1 Private Row (Townhouse) and Apartment Vacancy Rates (%)

3.1.2 Private Row (Townhouse) and Apartment Average Rents ($)

3.1.4 Private Row (Townhouse) and Apartment Availability Rates (%)

3.1.6 Private Row (Townhouse) and Apartment Turnover Rates (%)

Reliability Codes for Proportions

The following two tables indicate the level of reliability of proportions:

Sampling Fraction (%) range

Structures in Universe (0,20]* (20,40] (40,60] (60,80] (80,100)

Coefficient of Variation (CV) %

Vacancy Rate 0 (0,5] (5,10] (10,16.5] (16.5,33.3] (33.3,50] 50+

Reliability Codes for Averages and Totals

CMHC HELPS CANADIANS MEET THEIR HOUSING NEEDS.

You can also reach us by phone at 1-800-668-2642 or by fax at 1-800-245-9274.

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